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Originally Posted by CRCRFT78
Read a headline stating Warren Buffet reveals he has prostate cancer, what are your thoughts on how this will affect the market? Will a panic ensue for all those investors that follow his every move?
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Good question Jose...
My take on it would be that anyone that is investing in Berkshire would have to wake up every morning they held the shares and ask themselves... "is this the day the headline reads Buffet died".
When you see what happened to Apple after Steve Jobs passing.... (it's gone straight up)... then you have to question "conventional wisdom" when you'd be certain the stock would tank.
The world seems to be more willing to shake off events like this and keep on truckin'
I think that most investors - the ones that move the markets - which is not individual investors, it's institutional investors - realize that these people aren't running the day to day businesses.... they're figureheads... and there's lots and lots of really good smart people still at the helm.
Although -- there are just as many cases where the CEO has left and the stock has never recovered from it -- GE being one I can think of... when Jack Welch retired. Citigroup being another. And watch out below if you're a JP Morgan owner and Jamie Dimon ever leaves.